Housing market theories

[MuntCuffin]

This is up the road from me, I thought cool I could sleep great in there! Basement walks out to a healthy brook. two "rooms" on first floor and a bathroom plus a ladder to the loft bedroom. 60k
Looks about 15x30

I know a shed when I see one.

 

[Animalmother]

Mortgage demand hits lowest level since end of 2018, even as interest rates ease
Mortgage demand falls to the lowest level since the end of 2018, even as interest rates ease a bit

 

[Thefishguy77]

I had been wondering how much might be driven by 2nd & 3rd property purchases at seriously low rates. Because those folks with money would drive the whole market up to where people who needed a first house have to bear them out.

100% what happened in my hood. All the cidiots from seattle/tacoma/olympia have been buying anything they could in tourist areas. They have been taking the free money and buying massively inflated houses. Often 300%+ price inflation in under 2 years. Most all with conventional mortgages, the cash buyers on the other hand are much more cautious, dont wave contingencies, do price history, etc. One could draw the conclusion that when you’re spending money you didnt earn you don’t care. What sucks super bad for all those vacation rental cidiots from out of town is most every local person hates you and very few will lift a finger to help you because you essentially bought their best friends family property that had been in the family for 100 years+, in somemcases homesteads, that had never been worth shit because you cant earn money out here. Well now tha family property is full of tourists and people whos bumper stickers say they dont like our kind out here.

Somethings going to have to give.

 

[east_beast]

Neighbor just sold his place for $1.2M. Smaller house, significantly older and more outdated house. He had 60 acres to my 11, but the a lot of his 60 is in a conservation easement so it's basically only good for elbow room. My Zillow value jumped up to $650k. I bought the place for $380k literally 13 months ago. If someone offered me $650k I'd toss them the keys. 😂

 

[MuntCuffin]

Neighbor just sold his place for $1.2M. Smaller house, significantly older and more outdated house. He had 60 acres to my 11, but the a lot of his 60 is in a conservation easement so it's basically only good for elbow room. My Zillow value jumped up to $650k. I bought the place for $380k literally 13 months ago. If someone offered me $650k I'd toss them the keys. 😂

Stop thinking that 650k is what it was even 13 months ago.

We livin' dat Weimar lyfe.

Interesting. Housing, food, and fuel have nearly increased in price 100%.

At what point do we call it hyperinflation and stop trying to blame whitey?

 

[junkytj]

Boomers then : able to buy nice house in nice neighborhood with 2 new / newish cars on a single income right outta HS

Boomers Now... buy that crack house in the ghetto and work your way up from there, enjoy your commute in your 25 yo shitbox.

The fuck kind of revisionist history is this? I'm an xer myself, but my parents were tail end boomers. They couldn't afford to buy shit. They rented until I was 11 or 12.

I will agree that millennials have had a tough economy to grow in, but to act like it's been roses prior is some bull shit. You think interest rates are high on a house right now? I've seen my parents parents pay double digit interest on a home loan and beg to get it. I would feel bad about the way millennials have had it pushed up their ass by the gov monetary policies, but they are the most reliably democrat voting generation on the political landscape today, so when I search all over the office, truck, and house; I cannot find a single fuck to give for them as a whole.

 

[junkytj]

On housing, I just had to sell because of a divorce. We bought the property 8 years ago for $68K and I cleared the land for a house and shop myself while we waited on our daughter to graduate high school and move to college so being out in the sticks wouldn't cost us so much time to go to various events. We built right at the beginning of covid and finished the house for $460K in Nov of 2020, so call it 530 all in. Had 3.6 acres lakefront on a paved cul-de-sac 20 minutes to growing, nice town, 3300 SF, listed for $850 and we close at asking price July 6. I'll be rid of the bitch and get to start over with some cash in today's economy.

 

[Thefishguy77]

This is up the road from me, I thought cool I could sleep great in there! Basement walks out to a healthy brook. two "rooms" on first floor and a bathroom plus a ladder to the loft bedroom. 60k
Looks about 15x30

I see stuff like that and the main clientele around here are snowbirds. Top is the 2 room, usually bedroom and kitchen. Basement is bathroom/laundry in the back corner and the rest is for the RV/5th wheel to do maintenance and keep it out of the weather and rodents completely. If you had enough land and the right location to do several smaller outbuildings I could see the potential for a awesome bachelor pad.

 

[Clemson13]

On housing, I just had to sell because of a divorce. We bought the property 8 years ago for $68K and I cleared the land for a house and shop myself while we waited on our daughter to graduate high school and move to college so being out in the sticks wouldn't cost us so much time to go to various events. We built right at the beginning of covid and finished the house for $460K in Nov of 2020, so call it 530 all in. Had 3.6 acres lakefront on a paved cul-de-sac 20 minutes to growing, nice town, 3300 SF, listed for $850 and we close at asking price July 6. I'll be rid of the bitch and get to start over with some cash in today's economy.

Did I miss something? (Park?) Sorry man, that fucking blows I had though you were one of the guys pulling the whole marriage thing off from your posts over the years.

This is the house with the pine ceiling patio and outdoor fireplace? The pics I'm thinking of looked awesome, but I may have the wrong person. Maybe FlexyTJ?

 

[junkytj]

Did I miss something? (Park?) Sorry man, that fucking blows I had though you were one of the guys pulling the whole marriage thing off from your posts over the years.

This is the house with the pine ceiling patio and outdoor fireplace? The pics I'm thinking of looked awesome, but I may have the wrong person. Maybe FlexyTJ?

I thought I was too. No TP posts, shit happened too fast. I didn't piss her off too bad, divorce was fair, it just sucks to watch everything you put your sweat and hard work into get sold off when you had no intentions of selling. House was very nice, screened in porch had oak tongue and groove I hand milled so it was imperfect. It had a brick mantle, but no fireplace and no outdoor kitchen.

listing is still up at this link if you are curious.

9955 Coose Bay Blvd, Rogers, AR 72756

Check out this new listing 9955 Coose Bay Blvd, Rogers, AR 72756, from Realtor ® 12 Stones NWA, Brokered by Exp Realty

skyhigh360photography.gofullframe.com

 

[Thefishguy77]

The fuck kind of revisionist history is this? I'm an xer myself, but my parents were tail end boomers. They couldn't afford to buy shit. They rented until I was 11 or 12.

I will agree that millennials have had a tough economy to grow in, but to act like it's been roses prior is some bull shit. You think interest rates are high on a house right now? I've seen my parents parents pay double digit interest on a home loan and beg to get it. I would feel bad about the way millennials have had it pushed up their ass by the gov monetary policies, but they are the most reliably democrat voting generation on the political landscape today, so when I search all over the office, truck, and house; I cannot find a single fuck to give for them as a whole.

Solid Gen X here.
Millennials have not had it harder than any other generation. Just different challenges, they are the biggest group of whining ****s of the generations alive currently. Not many will debate that. Now they are screaming that interest rates are 5% when the boomers the people that, according to them are responsible for everything, we’re grateful to get 15% with a huge downpayment. Most ever single millennial I know hated Trumps policies and ideas in regards to no minimum wage increase to $15/hr and cutting benefits for those that were perpetually on them. While talking about how great things were under Obama. How is was so welcoming to all the immigrants that just want a better life. Even saying how W. was better than Trump because he expanded unemployment and other handouts vs shrunk them. Well guess what, that shit costs money and now that is a HUGE part of our rampant spending. The amount of money we spend on non citizens and handout for those how have decided to take as long as they can is MASSIVE. All those programs are perpetually money puts that the only solution is to make them bigger. Fucking morons.


The millennial economy has gone through 1 housing crash and there were 3 great years for them to buy and hold a house for around 5-7% easy with a fha loan. Most of the millennials I knew back then were to busy saying how corporate america caused the housing crash to realize it was a very intelligent time to buy a house right after the crash. Then they had a decade plus of quantitative easing they demanded from W. and Obummer. Anytime the government talked about slowing or stopping the QE. Politicians and Millennials were the only groups I heard saying dont do that it will kill the economy and only help make the rich richer. Well now those same whiny ****s are screaming the the economy they helped create by continuing to vote in the progressives is somehow not their fault. Millennials are too blind to see still that they have been taught to blame other generations instead of the government, the ones who wrote the bills and programs and lied to the public about how they worked and how much they cost. Even Gen Y has figured it out. Thats saying something.

 

[Alpine4x4]

100% what happened in my hood. All the cidiots from seattle/tacoma/olympia have been buying anything they could in tourist areas. They have been taking the free money and buying massively inflated houses. Often 300%+ price inflation in under 2 years. Most all with conventional mortgages, the cash buyers on the other hand are much more cautious, dont wave contingencies, do price history, etc. One could draw the conclusion that when you’re spending money you didnt earn you don’t care. What sucks super bad for all those vacation rental cidiots from out of town is most every local person hates you and very few will lift a finger to help you because you essentially bought their best friends family property that had been in the family for 100 years+, in somemcases homesteads, that had never been worth shit because you cant earn money out here. Well now tha family property is full of tourists and people whos bumper stickers say they dont like our kind out here.

Somethings going to have to give.

Thats how our market is. Lots of west siders buying 2nd and 3rd homes. The property we're buying was actually purchased by west siders in 2004 and they are selling some off and keeping the rest for their kids. Its an old homestead property with a spring, mineral, timber, and water rights, etc. When we were scoping out utility locations we got to talking with one of the neighbors and he asked where we were from, let him know we were locals and he opened up a lot more

 

[east_beast]

Stop thinking that 650k is what it was even 13 months ago.

A lot of truth to this. On the flip side, that $380k I paid 13 months ago seems like pocket change now.

 

[Clemson13]

A lot of truth to this. On the flip side, that $380k I paid 13 months ago seems like pocket change now.

These days I'm just bummed my house only has gone from 330k to supposedly 460k since dec 2019. Because that puts me so far behind you other fuckers appreciation for the next house I need to buy in 4 or 5 years

 

[Kwille]

I guess I'm technically a millennial (born in Jan 1983). Most people I know my age didn't live at home and went and purchased houses before and after the 08/09 housing crash. My 1st house had a 6.5% mortgage rate and had another mortgage for 8.5%. I worked my way thru the crash and sold the house in 2013 and picked up a shortsale house. Refinanced 1.5 yrs ago into 15 yr loan at 2% (paid it down as well). I figured that 2% will be the lowest in my lifetime. Some of my younger cousins stayed at home and didnt capitalize on their degrees and are still trying to get into a house/decent job. I agree with a lot of the comments but most people I know or associate with don't fall into this group. I really despise the generational breakdown (probably because I'm not a good fit as a millennial)

 

[rockota]

concerning

 

[TRINDU]

concerning

For who? I'm all for a crash.

 

[Animalmother]

I just put an offer on a house. Maybe a bad time to buy bit seems if you are selling a house and buying another it’s a wash. Anyways I may not get it but hoping the cash buyers swooping in for 30k over asking are over.

 

[Levigarrett76]

I just put an offer on a house. Maybe a bad time to buy bit seems if you are selling a house and buying another it’s a wash. Anyways I may not get it but hoping the cash buyers swooping in for 30k over asking are over.

Just closed on mine 8/17. 4 days after list had a cash buyer from the west coast that was tired of losing out come in and pay 100k over asking after a few offers close to or just under asking. Who the hell knows. Nothing good ever happens to me so I'll take it. Planning to wait till next spring/summer to buy or build.

 

[Slander]

concerning

Insane run up of prices, not concerning, market starts to slow down, now concerning.

Pundits are retards

 

[Void_of_Light]

Neighbors just put their place up for sale at $350k That's about $150-200k over valued.

 

[mjlogan88]

I just put an offer on a house. Maybe a bad time to buy bit seems if you are selling a house and buying another it’s a wash. Anyways I may not get it but hoping the cash buyers swooping in for 30k over asking are over.

May not financially be the best time, but here's my theory on it right now.

A lot of the bitchin properties have already hit the market or are going to be on the market before the market softens up too much. Waiting til the very bottom you might be bottom feeding on leftovers and even though they are cheap, they might not be what you want.

 

[Poke]

Neighbors just put their place up for sale at $350k That's about $150-200k over valued.

That’s the new value, keep up. Not going back.

The housing prices are down, buying is down from months ago. We might be at the near the bottom of the dip

 

[Alpine4x4]

Lumber and materials is falling. Interest rates are climbing. Hoping they take a bit of a dive by next spring when we start construction.

 

[ThePanzerFuhrer]

I closed on my first home mortgage ever last week. If I bought something it most definitely is at its peak value and will only go down from here. 5% on a 15 year note for me.

 

[arse_sidewards]

For who? I'm all for a crash.

You know that the junk flipping is gonna be a lot harder when people are cash strapped, right?

Sure there will be more people looking for shit but you'll actually have to deal with them in a serious manner unlike you seem to be doing.

 

[IH-SSII]

My house per Zillow dropped in value $7,000 for the month. Good thing is, I have no mortgage.

 

[yozsi]

Mine closes today ....was on the market for 15 days.

More deets? Location, approx price?

 

[Dethmachinefab]

My house per Zillow dropped in value $7,000 for the month. Good thing is, I have no mortgage.

Checked on mine, down 20k for the month.

Seeing more land on market for longer, and some with price reductions. I'll be real happy if it dumps hard and I can pick up a nice piece.

 

[Dead Pool]

Down 8K here, according to zillow. Hopefully taxes falls with it. I also have no mortgage.